Motor City Fastener, a portfolio company of Kian Capital and Oakland Standard Co. since July 2015, has acquired EMCO Inc.
EMCO is a distributor of electrical, mechanical, fluid power and automation products to customers that design, manufacture, or upgrade machinery. EMCO also provides inventory management programs, inventory kitting programs, manufacturing services, and other engineering and technical services. The company was founded in 1954 and is based in Charlotte, NC (www.emcoanswers.com).
Motor City Fastener, acquired by Oakland Standard in July 2015, is a wholesale distributor of industrial fasteners, fittings, abrasives, tools, personal protective equipment and related items. The company is based in the Detroit suburb of Hazel Park (www.motorcityfasteners.com).
Generational Equity (www.genequityco.com) was the financial advisor to EMCO. “This deal went smoothly due to the rapport and respect between buyer and seller,” said Genell Boyer of Generational Equity. “The seller saw the ‘big’ picture between the two companies’ ability to gain more market shares by being able to cross-sell to its current and future clients. It was a win-win for everyone.”
Kian Capital invests from $5 million to $15 million of equity and subordinated debt in companies that have revenues of $15 million to $150 million and EBITDA of $2 million to $15 million. Sectors of interest include business services, distribution and logistics, healthcare services, and niche manufacturing. Kian has offices in Charlotte and Atlanta (www.kiancapital.com).
Oakland Standard invests in US and Canada-based companies that have less than $10 million of EBITDA. Sectors of interest include niche manufacturers, value-added distributors, general industrial and automotive, and building products. The firm is based in the Detroit suburb of Birmingham (www.oaklandstandard.com).
© 2017 Private Equity Professional | May 24, 2017
